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I’m no legal expert but I have followed the debate over whether the trust board have acted within their powers, or otherwise, with interest with regard to rule 102.
What does cross my mind is the further trust rule -
“The following decisions must be made by Legacy Member resolution:
49.2.1 any decision to sell, transfer or otherwise dispose of Adams Park”
Assuming that the form of charge gives the power to sell or dispose of Adams Park in the event of default then I am not sure how this sits with rule 49.2.1?
Would the fact that the board have taken this decision unilaterally make it ultra vires and therefore void?